The simple interest rate per year required to accumulate the same amount of money in 2 years at 20% per year compound interest is: a. 20.5% b. 21% C. 22% d. 23%
The simple interest rate per year required to accumulate the same amount of money in 2 years at 20% per year compound interest is: a. 20.5% b. 21% C. 22% d. 23%
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 12PROB
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The simple interest rate per year required to accumulate the same amount of money in 2 years
at 20% per year compound interest is:
a. 20.5%
b. 21%
C. 22%
d. 23%
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